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New office building planned for South End

By Eric Frazier
efrazier@charlotteobserver.com

A Charlotte developer announced plans Tuesday for a new office building in the South End area.

The three-story building will be at 2418 Dunavant St., just northwest of where South Boulevard meets Remount Road. It will have 15,500 square feet of office space.

Officials with RBB Investments said they expect to start construction early this year, with occupancy in the fall.

“We feel there is pent-up demand for new Class A office space in this area which is already bursting with energy and new residential and retail development,” Margie Bruner, principal of RBB, said in a statement.

Bouyed by the proximity of the Lynx Blue Line, the South End has seen a surge of development in recent years, much of it coming in the form of new apartment complexes.

Office vacancy rates in the midtown submarket that includes the South End stood at 4.3 percent in the third quarter of 2013, according to the latest figures available from Karnes Research. That ranked among the lowest rates in the city for Class A office space – the designation reserved for the most desirable office accommodations.

The architectural team of Overcash Demmitt designed the planned office building. Leasing will be handled by Anne Vulcano and Jessica Brown of CBRE, with rental rates expected to be $26 to $28 per square foot.

Frazier: 704-358-5145; @Ericfraz on Twitter
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